Gideon Moi, the national chairman of the Kenya African National Union (KANU), expressed his support for President William Ruto’s economic revival efforts through the Finance Bill 2023.
However, he cautioned against potential loopholes that could hinder progress in Kenya’s development.
While acknowledging the Parliament’s crucial role, the former Baringo Senator advised the government to prioritize improving the lives of ordinary Kenyans. He endorsed the Affordable Housing Programme and other related projects aimed at addressing pressing societal needs.
Moi emphasized the importance of establishing a robust legal, policy, and administrative framework for the National Housing Development Fund.
“In the case of the National Housing Development Fund, swift action is required to institute a robust legal, policy, and administrative framework that will govern the management and administration of the fund to ringfence it for its sole primary purpose, the construction of affordable houses for the people of Kenya,” said Moi.
He stressed the need to ensure that the fund is dedicated solely to its primary purpose: constructing affordable houses for the people of Kenya. Additionally, he highlighted that addressing the proliferation of informal settlements requires a comprehensive approach beyond affordable housing initiatives.
“We reiterate that addressing the proliferation of informal settlements requires a comprehensive approach that goes beyond affordable housing initiatives,” Moi stated.
The former Baringo Senator urged President William Ruto to identify and address loopholes that corrupt individuals exploit to embezzle taxpayers’ funds.
He emphasized the necessity of transparent and accountable systems to combat corruption effectively and ensure taxes are appropriately utilized.
Moi underscored the significance of promoting economic growth, raising labor incomes, and integrating more individuals from the informal sector into the formal economy.
Moi also recommended a review of Kenya’s taxation policies to create a favorable business environment. He highlighted the potential negative impact of high taxes on businesses, including reduced investment in growth, employee compensation, and competitiveness.
The former senator emphasized the need for proactive measures that incentivize the private sector, such as implementing favorable tax regimes and reducing bureaucratic obstacles to attract foreign direct investment, particularly in manufacturing and value addition industries, leading to job creation and economic prosperity.
In addition, Moi called on Members of Parliament to thoroughly review the contentious issues facing the country, especially in light of the ongoing debate on new taxes.
He emphasized the importance of Parliament as the interface between the people, their aspirations, and the executive’s policies. Moi underscored the need to strengthen Parliament as an independent institution that serves the interests of the people.
